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8 Billion Yuan Planned for Boao Development
About eight billion yuan (nearly 1 billion US dollars) will be used to turn Boao, the permanent venue for the Asia Forum, in south China's tropical island province of Hainan, into a conference and resort center capable of receiving 3 million visitors each year.
According to a development plan made public Monday by the Boao Investment Holdings Co. Ltd., 25 four-star and five-star hotels, five to six golf courses, and other recreational and rehabilitation facilities will be build in an area of 41.8 sq. km in Boao Town.
The plan was revealed Monday at the First Meeting of Boao Construction Advisory Committee, presided over by Chen Jinhua, vice-chairman of the National Committee of the Chinese People's Consultative Conference, and attended by famous construction planners, officials from the Ministry of Foreign Affairs, the Hainan provincial government and banks.
Situated near the estuary of the Wanquan River on the island, Boao has tropical seaside scenery and hot springs.
Over 500 million yuan (about 60.24 million U.S. dollars) in financing the first phase of construction of the Boao Tourism Development Zone.
The Asia Forum is a non-governmental international conference aiming to provide a high-level dialogue arena for the governments, industrial and commercial leaders, experts and scholars in Asia on regional economic development, population, and environmental issues.
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